Currency audit at Conotoxia.com

Conotoxia gives an insight into foreign exchange rates, a unique tool on the market dedicated to entrepreneurs. The currency audit compares the transaction rate in the past with the real rates provided by the fintech at the same time.

• Currency audit at Conotoxia.com is the only tool of this kind on the market.
• The service checks whether companies in the past overpaid on currency exchange.
• In addition to comparing historical exchange rates, the audit presents currency charts and the author's market review with experts' analysis.
• Conotoxia has announced its plans to launch the subscription service "Audit PRO" for corporations and other large companies, which need a constant cost analysis of the executed transactions.

Conotoxia offers companies an audit of historical rates of transactions in order to reduce costs. It is a free tool for businesses of all sizes, providing them with a quick and safe way to obtain a detailed report, comparing the rates of transactions made even 5 years ago."Working daily with members of financial boards, CFOs and accountants, we understand their point of view and the importance of cost optimization in companies. The main advantage of the audit is the possibility to tailor it to the situation of each company. All companies that order a currency audit from us will receive a free, personalized report on their historical transactions. Those responsible for company finances – regardless of the business size – can introduce significant savings, and the companies themselves invest even more in development," says Piotr Kicinski, Vice-President of Cinkciarz.pl, a company belonging to Conotoxia Holding. 

How does it work?

In the form found at Conotoxia.com, a representative of the company fills in the details of the currency exchange transactions made in the last 5 years: the currency pair, transaction rate, and execution date. The audit includes an overview of historical transactions listing the differences between the bank or other institution rates and those offered at Conotoxia.com at that time. Apart from the cost analysis, there are provided charts and the author's review of the currency market with the calendar of events and fintech analysts' comments. 

"The pandemic has not only not affected, but has actually defined financial markets in recent quarters. This presents another major challenge faced by the departments responsible for finance in their companies. A currency audit serves as an essential part of supporting reports in order to understand how to save money on currency transactions in the future. The issue of optimizing a company's currency handling costs has its significance in reporting and, for example, in foreign contracts' profitability. Transparency is key on the financial market and should be the basis underlying successful cooperation. Therefore, it is primarily a matter of trust," adds Robert Blaszczyk, Head of the Strategic Clients Department at Cinkciarz.pl.Great plans for the future

Conotoxia plans to launch a subscription service in the PRO version. Constant transaction analysis and optimization are designed for international corporations, companies listed on the WSE and global investment funds having currency exposure. Audit PRO will be fully user-configurable – detailed asset registers, including futures and options transactions, will be additionally available. The module responsible for optimization signals will use AI accelerated analytics processes, developed by Conotoxia as part of its Big Data Department.

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